Suncor Energy Inc. $SU Shares Acquired by First Trust Advisors LP

Key Points

• First Trust Advisors LP increased its Suncor Energy stake by 9.2% in the first quarter, bringing its holdings to 260,952 shares valued at approximately $17.25 million. Institutional investors collectively own 67.37% of the company.
• Suncor reported quarterly revenue of $10.41 billion, exceeding analyst estimates, but earnings of $1.41 per share fell short of the $1.45 consensus forecast. The company currently expects full-year EPS of $7.11.
• Suncor maintains a quarterly dividend of $0.60 per share, equivalent to an annualized $2.40 payout and a 3.6% yield. Analysts have a consensus “Buy” rating and an average price target of $71.67.

First Trust Advisors LP lifted its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 9.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 260,952 shares of the oil and gas producer's stock after buying an additional 22,076 shares during the quarter. First Trust Advisors LP's holdings in Suncor Energy were worth $17,250,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Barometer Capital Management Inc. purchased a new position in Suncor Energy during the 1st quarter valued at about $9,984,000. Burling Wealth Partners LLC increased its stake in Suncor Energy by 22.8% during the first quarter. Burling Wealth Partners LLC now owns 74,712 shares of the oil and gas producer's stock worth $4,939,000 after purchasing an additional 13,878 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in Suncor Energy during the first quarter worth about $53,000. Dimensional Fund Advisors LP lifted its position in shares of Suncor Energy by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer's stock worth $833,622,000 after purchasing an additional 411,243 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Suncor Energy by 8.4% during the first quarter. Parallel Advisors LLC now owns 9,343 shares of the oil and gas producer's stock worth $618,000 after purchasing an additional 721 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Price Performance

SU stock opened at $65.84 on Thursday. The business's 50-day moving average is $60.64 and its two-hundred day moving average is $59.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. The firm has a market capitalization of $77.74 billion, a P/E ratio of 17.28, a P/E/G ratio of 0.48 and a beta of 0.30. Suncor Energy Inc. has a 1 year low of $37.76 and a 1 year high of $70.29.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing analysts' consensus estimates of $1.45 by ($0.04). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The company had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the firm posted $1.31 earnings per share. Analysts anticipate that Suncor Energy Inc. will post 7.11 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 4th were paid a $0.60 dividend. The ex-dividend date was Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. Suncor Energy's payout ratio is currently 45.67%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SU. The Goldman Sachs Group cut shares of Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price objective for the company. in a report on Friday, June 5th. Zacks Research upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, July 6th. Weiss Ratings cut shares of Suncor Energy from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 14th. ATB Cormark Capital Markets raised shares of Suncor Energy from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, April 1st. Finally, Royal Bank Of Canada boosted their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 1st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Suncor Energy has a consensus rating of "Buy" and an average target price of $71.67.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company's operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.

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